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Iris Neofinanciera Leveraged Verestro's Business Control Solution

Updated: Apr 30

Iris Neofinanciera has leveraged the power of Verestro's Business Control solution to revolutionize the neobank’s operations. The deployment of our solution, coupled with the innovative product, IrisCard, is now changing the landscape of business expense management in Colombia.


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IrisCard: A Game-Changer for Entrepreneurs

 

Iris Neofinanciera introduced IrisCard, an innovative prepaid card designed to facilitate both national and international transactions within the Mastercard network. The primary goal behind IrisCard is to empower entrepreneurs to optimize operational efficiency in corporate expense management.


The neobank aims to issue 30,000 cards in the market, enabling Colombian entrepreneurs to conduct approximately 2,000,000 transactions seamlessly. This will reduce the reliance of SMEs on traditional payment methods like cash or personal cards, thereby enhancing overall expense control within the organization.


Iris: Pioneering the Neofinancial Revolution

 

Iris Neofinanciera’s journey with IrisCard is a part of their broader portfolio of services. Lorenzo Garavito, CEO of Iris Neofinanciera, stated: “We can offer SMEs the opportunity to consider IrisCard as a new globally accepted payment method for contactless and online purchases." Garavito also emphasizes the convenience factor, noting that companies can issue the desired number of cards directly from the Iris Digital Portal.


Empowering Business Control with Prepaid Cards

 

In addition to facilitating payments, IrisCard gives businesses real-time control through a client dashboard. This dashboard provides insight into company spending and the flexibility to allocate budgets to different departments. It allows for the customization of usage limits for each card, maximum spending thresholds, usage frequency and more.


Federico Martínez, Country Manager of Mastercard Colombia, also recognized the importance of Iris' focus on this important segment, emphasizing that it is in line with the drive towards a digital economy. He expressed his pride in extending Mastercard's technology to provide fast, seamless and secure payment experiences in Colombia.


Iris Neofinanciera's success story exemplifies the transformative power of Verestro's Business Control solution. We are honored to have played a pivotal role in Iris Neofinanciera's journey to redefine corporate expense management and fostering Colombia's digital economy.


At Verestro, we remain committed to helping financial institutions like Iris Neofinanciera thrive in the fintech landscape.

 

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